What's your view/opinion on today's market movements?

[ilearn2t]

Hello RahmanSL

Both the AUD/USD & Gold are in a downward mood at the minute, hope its got nothing to do with the 4.6 earthquake has shook the Western Australia’s Goldfields region earlier on.

AUD/USD is dragging down the bottom line of the 1H chart "Bands" at the moment, but we both know the "Bands" can bubble out before they burst.

I'm still enjoying trading for fun.

Good luck
ilearn2t

 

[RahmanSL]

They have earthquakes in Aussie land????????
...hmmmmm....nothing over Bloomberg nor CNBC on that...guess 4.6 is not that bad.

Well, I got my wish and managed to close out all short positions and now holding only the longs for positive swaps

Gold seems to have bottomed out today at the 1323 level and now creeping back up....

...ahhhh I see.... you not trading full time and making tons of money in the market..

Ok Liz, thank you for your input and also I follow your report over at your thread too which is most informative

 

[RahmanSL]

Today I will continue to trade exclusively on the AUD/USD (but will take other trades as opportunity arises)....price went way down below my R1 0.89447 in early Asian session and triggered some of my pending long positions.

With Gold creeping indecisively on which direction it will go, I have closed out all AUD/USD long positions that have gone into some profits to prevent any unpleasant surprises which could potentially be hazardous to my account's health.

With four more key economic reports coming out from the US today, it might prove to be an interesting and adrenaline-filled trading session

 

[RahmanSL]

There was a news snippet either on Bloomberg or CNBC (not sure which one) stating that with the AUD/USD at the low side, the pair is good for "carry trade" (to the Newbies, meaning going long to get daily positive swaps).....and that's exactly what I am doing now to wait for some economic improvements in Aussie land or for Gold to go back up to year's high.

 

[ilearn2t]

Hello RahmanSL

Latest "expert" thinking is support at 0.8894 resistance at 0.9005 with possible high of 0.9072.
Sitting below its 20H and 50H moving averages at the moment.

Above 350K in the US. Unemployment Claims will rock the US dollar back, highest point this year 348K (30/Jan), forecast is 333K so S/L tight on your "Buys".

Good luck
Liz

 

[RahmanSL]

Thank you for your input again which are very much appreciated and noted

...hmmm....support at 0.8894;yah?....will have to do my "pips dance" to ward off this possibility......set tight SL on my "longs"???....hehehe...I set the "SL" at the end of my name...........better to have credit card ready.....and as a matter of fact, I have added some more capital to boost my account free margin....

All the best!

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Well, Gold is shooting upwards as I post....and (hopefully) dragging the AUD (kicking and screaming no doubt) upwards too

 

[dkami]

talking about the carry trade AUD shouldn't be far off giving some nice buy signal's


AUDCHF bullish divergence on W1 with bearish hidden divergence on D1 (very similar to AUDUSD but with better RR) brought small lot today @ open and looking to buy more as hidden divergence plays out

As per my previous posts AUDNZD mist my limit order by couple pips yesterday, AUDUSD still hasn't come back to test my D1 support (mist by 20pips), O well back to my day job as steering wheel attendant of 140ton road train

 

[Pharaoh]

I could go out and buy some gold. That always makes price plummet within 24 hours.

 

[RahmanSL]

Yes, the AUD/USD is still good for "carry trade" and I have already taken a bunch of them yesterday giving me some nice positive swaps since last Wed
With weakness in both the AUD & USD, and with the price (during Asian session) at my weekly pivot point at 0.89782 I am scalp trading the hell out of the pair in BOTH directions and reaping some pretty good profits

As long as nothing major happen to unbalance the equilibrium today, I should get very good profits today....however, I will have to consider & assess the 4 key data coming out from the US and also FOMC member Stein speech....but if all the past few days data coming out of the US are anything to go by, I don't think there will be very much impact on the currency pair.

Conclusion: Continue to scalp the hell out of the pair today......leaving some strong long & short positions as cushion for any "surprises".

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Ha! The Ruler-of-Upper-and-Lower-Nile has finally grace my thread....Welcome ohhh great Son-of-Ra'a

Yes, selling a few tons of your gold will drive the price down......and, as you said, if you go on "buy" the price will go the opposite direction (for which you have apologized for in the past too)

P/S I hope I will not get an "appearance fee";right???

 

[RahmanSL]

I heard a "funny" dialogue over at CNBC this morning!
Seems like the financial world are scratching their head and trying to figure out why China is depreciating their currency at this time.
To me, the answer is simple! The Chinese leaders lie about their actual economic situation and is depreciating their Yuan for export purposes.

I also believe they are giving false economic data without any concern with the consequences, and, in all likelihood, possess the attitude: "So what if we give false data? Who can check our data anywhere?"

...in other words, screw the rest of the world as long as we benefit from our lies.

...and as a matter of fact, I also believe the US, UK, EZ....and possibly India, Indonesia, South American & African countries too...are lying though their teeth about the real state of their economy....Japan & S. Korea can be believable at times, but Russia's real data are probably "top secret".

The only countries that I believe are publishing near correct data are New Zealand, Australia, and Canada.....possibly Germany is the only EZ country to be upfront with their data too.